Copper gets three reasons to jump 5.1%

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    NEW YORK 21 August 2009 21:43

    A trifecta of positive housing news, rising equities and oil and a falling U.S. dollar lifted copper prices 5.1 percent Friday on the Comex division of the New York Mercantile Exchange.

    "We've had a pleasant surprise with housing data that gave us a lift," said Matt Zeman, head of trading at LaSalle Futures Group in Chicago.

    Copper for September delivery settled at $2.8805 a pound on the Comex, up from $2.7415 the previous day, while three-month copper ended second-ring trade on the London Metal Exchange at $6,160 per tonne, up just 0.6 percent from $6,122 Thursday.

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